We are investigating the proposed sale of HashiCorp, Inc. (Nasdaq: HCP) (“Hashi”) to IBM for $35.00 per share in cash.
If you remain a Hashi shareholder and question the fairness of the price, you may contact our firm to discuss your legal rights at no charge by completing and submitting the form below.
Why is there an investigation?
On April 24, 2024, IBM announced that it had reached an agreement to acquire Hashi for $35.00 per share in cash.
On June 13, 2024, Hashi file a proxy with the SEC soliciting Hashi shareholders to approve the proposed sale to IBM in a vote to be held on July 15, 2024. The proxy disclosed that negotiations with IBM were managed by an M&A Committee comprised of three Hashi directors, including Glenn Solomon. Solomon is a Managing Partner with Noble Capital, which is the largest holder of Hashi common stock as of April 30, 2024, and thus potentially has interests that differ from those of other Hashi common stockholders.
“We are investigating whether the Hashi Board of Directors acted in the best interests of Hashi shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to Hashi shareholders, and whether all material information regarding the transaction has been fully disclosed.”